VanEck Steel ETF
ALTAR
Score™		 20.6% info Recommen-
dation		 SPECULATIVE
2024E    2025E
P/E
ratio		 7.8x P/Sales
ratio		 0.6x
P/BV
ratio		 0.9x Div.
yield		 4.9%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
VanEck Vectors Steel Index Fund seeks investment results that correspond to the price and yield of the Amex Steel Index.

FUND BASICS
Category Global Equities
Fund Sponsor Van Eck Associates Corp
Website www.vaneck.com
Inception date Oct 10, 2006
Assets (mns) $95
Currency USD
Expense ratio 56 bp
Distributions Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian Bank of New York Mellon
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 28
Wgt avg mkt cap (mns) $21,156
Large cap (>$10bn) 45.9%
Mid cap ($2-10bn) 39.6%
Small cap (<$2bn) 6.1%
Developed mkts 77.6%
Emerging mkts 22.5%

TOP TEN HOLDINGS
RIO TINTO PLC-SPON ADR 9.3 %
VALE SA-SP ADR 7.9 %
NUCOR CORP 6.2 %
CARPENTER TECHNOLOGY 5.2 %
RELIANCE STEEL & ALUMINUM 5.2 %
STEEL DYNAMICS INC 5.0 %
TENARIS SA-ADR 4.9 %
COMMERCIAL METALS CO 4.9 %
ALLEGHENY TECHNOLOGIES INC 4.7 %
ARCELORMITTAL SA ADR 4.6 %
Total 57.9 %

TOP COUNTRY EXPOSURE
UNITED STATES 54.9 %
BRAZIL 16.7 %
LUXEMBOURG 13.5 %
BRITAIN 9.3 %
SOUTH KOREA 4.6 %
CANADA 1.0 %





HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru June 30)
Year-to-date 1 year 5 years 10 years Since Incep.
-12.2% 4.1% 14.9% 6.9% 5.3%

Market Correlations
versus... Beta R-squared
S&P500 1.27 50%
MSCI EAFE 1.53 66%
MSCI Emg. Mkts. 1.16 40%

Technical Indicators
Recent close $69.04
30d moving avg. $67.51
Annualized volatility 32.6%
Short interest (ETF) 0.7%
Short interest (Underlying) 4.9%
Relative strength (RSI) 38

Liquidity measures
Avg. volume (thou.) 8
Turnover 0.6%
Bid/Ask (% of price) 0.15%
ADV underlying (mns) $3,340

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 469 potential alternatives to the VanEck Steel ETF ETF based on the alternatives' overlap in portfolio holdings with SLX. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: SLX Expense: 56 bp ALTAR Score™: 20.6%


ALTERNATIVE ETFs BASED ON OVERLAP WITH SLX
Ticker Fund
Name		 Overlap1
vs SLX
(%)		 Expense
ratio
(bp)		 Savings
vs SLX
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs SLX
(%)
XME SPDR S&P Metals & Mining ETF 44.3 35 21 8.4 -12.2
PYZ Invesco Dorsey Wright Basic Materials Momentum ETF 20.1 60 -4 8.0 -12.6
PSCM Invesco S&P SmallCap Materials ETF 18.7 29 27 8.1 -12.5
FXZ First Trust Materials AlphaDEX Fund 18.5 61 -5 10.2 -10.4
EV Mast Global Battery Recycling & Production ETF 12.9 65 -9 13.2 -7.5
IYM iShares U.S. Basic Materials ETF 11.9 40 16 6.8 -13.8
PICK iShares MSCI Global Metals & Mining Producers ETF 10.9 39 17 12.7 -7.9
ZIG Acquirers Fund 9.6 84 -28 13.7 -6.9
PAVE Global X U.S. Infrastructure Development ETF 9.1 47 9 5.7 -14.9
ILF iShares Latin America 40 ETF 9.0 48 8 11.3 -9.3
VAW Vanguard Materials ETF 8.8 10 46 6.4 -14.2
CCSO Carbon Collective Climate Solutions US Equity ETF 8.4 35 21 2.5 -18.1
FMAT Fidelity MSCI Materials Index ETF 8.3 8 48 6.5 -14.1
BRAZ Global X Brazil Active ETF 7.9 75 -19 10.2 -10.4
RSPM Invesco S&P 500 Equal Weight Materials ETF 7.5 40 16 8.0 -12.6
IFRA iShares U.S. Infrastructure ETF 7.3 30 26 6.4 -14.3
HAP VanEck Natural Resources ETF 7.2 50 6 10.0 -10.6
GNR SPDR S&P Global Natural Resources ETF 6.0 40 16 9.8 -10.8
RDVY First Trust Rising Dividend Achievers ETF 5.9 50 6 9.4 -11.2
ECML Euclidean Fundamental Value ETF 5.8 95 -39 12.9 -7.7
XLB Materials Select Sector SPDR Fund 5.7 9 47 5.8 -14.8
DVLU First Trust Dorsey Wright Momentum & Value ETF 5.3 60 -4 10.3 -10.3
RFV Invesco S&P Midcap 400 Pure Value ETF 4.8 35 21 8.5 -12.1
COWZ Pacer US Cash Cows 100 ETF 4.5 49 7 11.3 -9.3
OIH VanEck Oil Services ETF 4.3 35 21 2.2 -18.5
WTV WisdomTree US Value Fund of Benef Interest 4.2 12 44 9.3 -11.3
MXI iShares Global Materials ETF 4.2 41 15 6.8 -13.8
XMVM Invesco S&P MidCap Value with Momentum ETF 4.2 39 17 10.5 -10.2
FOVL iShares Focused Value Factor ETF 4.1 25 31 9.6 -11.1
SDVY First Trust SMID Cap Rising Dividend Achievers ETF 4.0 60 -4 9.2 -11.4
SPGP Invesco S&P 500 GARP ETF 3.9 34 22 8.2 -12.4
RZG Invesco S&P Smallcap 600 Pure Growth ETF 3.8 35 21 6.4 -14.2
VAMO Cambria Value & Momentum ETF 3.7 61 -5 9.1 -11.5
VRAI Virtus Real Asset Income ETF 3.7 55 1 8.3 -12.4
MAKX ProShares S&P Kensho Smart Factories ETF 3.6 58 -2 1.1 -19.6
SYLD Cambria Shareholder Yield ETF 3.6 59 -3 11.2 -9.4
FLOW Global X U.S. Cash Flow Kings 100 ETF 3.5 25 31 11.3 -9.3
DFRA Donoghue Forlines Yield Enhanced Real Asset ETF 3.4 69 -13 8.6 -12.0
XSMO Invesco S&P SmallCap Momentum ETF 3.4 39 17 7.2 -13.5
RSHO Tema American Reshoring ETF 3.3 75 -19 3.6 -17.1
IJT iShares S&P Small-Cap 600 Growth ETF 3.2 18 38 6.3 -14.4
VIOG Vanguard S&P Small-Cap 600 Growth ETF 3.2 15 41 6.4 -14.2
FTIF First Trust Bloomberg Inflation Sensitive Equity ETF 3.2 60 -4 8.4 -12.2
FTGS First Trust Growth Strength ETF 3.2 60 -4 5.8 -14.8
SLYG SPDR S&P 600 Small Cap Growth ETF 3.1 15 41 6.3 -14.3
GRPM Invesco S&P MidCap 400 GARP ETF 3.1 35 21 9.2 -11.4
RWK Invesco S&P MidCap 400 Revenue ETF 3.0 39 17 8.6 -12.0
KONG Formidable Fortress ETF 3.0 89 -33 5.8 -14.8
XSVM Invesco S&P SmallCap Value with Momentum ETF 2.9 36 20 10.9 -9.7
COWS Amplify Cash Flow Dividend Leaders ETF 2.7 0 56 11.4 -9.2
RBLD First Trust Alerian US NextGen Infrastructure ETF 2.7 65 -9 5.1 -15.5
ECOW Pacer Emerging Markets Cash Cows 100 ETF 2.6 70 -14 9.3 -11.3
HAPY Harbor Human Capital Factor Unconstrained ETF 2.4 50 6 4.7 -15.9
AFMC First Trust Active Factor Mid Cap ETF 2.4 65 -9 7.2 -13.4
XMHQ Invesco S&P MidCap Quality ETF 2.4 25 31 6.4 -14.2
SPVM Invesco S&P 500 Value with Momentum ETF 2.3 39 17 8.4 -12.2
PXI Invesco Dorsey Wright Energy Momentum ETF 2.3 60 -4 7.3 -13.3
GLRY Inspire Faithward Mid Cap Momentum ETF 2.3 80 -24 7.9 -12.7
BSVO EA Bridgeway Omni Small-Cap Value ETF 2.3 47 9 8.7 -11.9
CNRG SPDR S&P Kensho Clean Power ETF 2.3 45 11 2.4 -18.3
FTA First Trust Large Cap Value AlphaDEX Fund 2.3 59 -3 8.4 -12.2
QMOM Alpha Architect U.S. Quantitative Momentum ETF 2.3 39 17 3.9 -16.8
SURE AdvisorShares Insiders Advantage ETF 2.2 90 -34 10.1 -10.5
BUL Pacer US Cash Cows Growth ETF 2.2 60 -4 7.9 -12.7
FLQM Franklin U.S. Mid Cap Multifactor Index ETF 2.2 30 26 8.0 -12.6
CALF Pacer US Small Cap Cash Cows 100 ETF 2.2 59 -3 11.7 -8.9
SMRI Bushido Capital US Equity ETF 2.1 71 -15 9.5 -11.1
QQQN VictoryShares Nasdaq Next 50 ETF 2.1 18 38 4.4 -16.3
QVMS Invesco S&P SmallCap 600 QVM Multi-factor ETF 2.1 15 41 7.6 -13.0
DFAT Dimensional U.S. Targeted Value ETF 2.1 28 28 7.9 -12.7
MAGA Point Bridge America First ETF 2.1 72 -16 6.4 -14.3
FMDE Fidelity Enhanced Mid Cap ETF 2.1 23 33 6.3 -14.3
ROSC Hartford Multifactor Small Cap ETF 2.0 34 22 8.5 -12.1
ION ProShares S&P Global Core Battery Metals ETF 2.0 58 -2 13.0 -7.6
XMMO Invesco S&P MidCap Momentum ETF 2.0 34 22 5.4 -15.2
DSMC Distillate Small/Mid Cash Flow ETF 2.0 55 1 11.4 -9.2
SMCP AlphaMark Actively Managed Small Cap ETF 2.0 90 -34 6.7 -13.9
GVIP Goldman Sachs Hedge Industry VIP ETF 1.9 45 11 5.3 -15.3
FCPI Fidelity Stocks for Inflation ETF 1.9 15 41 8.6 -12.0
UPGD Invesco Bloomberg Analyst Rating Improvers ETF 1.9 40 16 7.5 -13.1
DWAS Invesco Dorsey Wright SmallCap Momentum ETF 1.9 60 -4 0.0 -20.6
JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF 1.9 29 27 6.8 -13.8
APIE ActivePassive International Equity ETF 1.9 45 11 7.6 -13.1
SIXS ETC 6 Meridian Small Cap Equity ETF 1.9 89 -33 8.2 -12.5
GCOW Pacer Global Cash Cows Dividend ETF 1.8 60 -4 12.1 -8.5
DFSV Dimensional US Small Cap Value ETF 1.8 31 25 8.5 -12.2
KRUZ Unusual Whales Subversive Republican Trading ETF 1.8 75 -19 5.7 -15.0
BMVP Invesco Bloomberg MVP Multi-factor ETF 1.8 29 27 8.3 -12.4
IQSM IQ Candriam U.S. Mid Cap Equity ETF 1.8 15 41 6.2 -14.4
JMEE JPMorgan Market Expansion Enhanced Equity ETF 1.8 24 32 7.3 -13.3
VIOO Vanguard S&P Small-Cap 600 ETF 1.8 10 46 7.4 -13.2
VBR Vanguard Small Cap Value ETF 1.8 7 49 7.8 -12.8
DFLV Dimensional US Large Cap Value ETF 1.8 22 34 7.8 -12.8
AVLV Avantis U.S. Large Cap Value ETF 1.8 15 41 7.5 -13.1
IJJ iShares S&P Mid-Cap 400 Value ETF 1.8 18 38 7.6 -13.0
QVMM Invesco S&P MidCap 400 QVM Multi-factor ETF 1.7 15 41 6.9 -13.7
IVOV Vanguard S&P Mid-Cap 400 Value ETF 1.7 15 41 7.7 -13.0
EQRR ProShares Equities for Rising Rates ETF 1.7 35 21 8.3 -12.3
IJR iShares Core S&P Small Cap ETF 1.7 6 50 7.4 -13.3
ULVM VictoryShares US Value Momentum ETF 1.7 20 36 7.5 -13.2
EZM WisdomTree U.S. MidCap Fund 1.7 38 18 7.8 -12.8
MDYV SPDR S&P 400 Mid Cap Value ETF 1.7 15 41 7.6 -13.0
LSAF LeaderShares AlphaFactor US Core Equity ETF 1.7 75 -19 7.4 -13.2
RNMC First Trust Mid Cap US Equity Select ETF 1.7 60 -4 6.8 -13.9
AFLG First Trust Active Factor Large Cap ETF 1.7 55 1 6.2 -14.4
SPSM SPDR Portfolio S&P 600 Small Cap ETF 1.7 3 53 7.4 -13.2
CVY Invesco Zacks Multi-Asset Income ETF 1.7 106 -50 11.4 -9.2
XJH iShares ESG Screened S&P Mid-Cap ETF 1.7 12 44 6.6 -14.0
VFMF Vanguard U.S. Multifactor ETF 1.7 18 38 8.5 -12.1
JPME JPMorgan Diversified Return U.S. Mid Cap Equity ETF 1.6 24 32 7.7 -12.9
FDM First Trust Dow Jones Select MicroCap Index Fund 1.6 60 -4 7.4 -13.2
EEMD AAM S&P Emerging Markets High Dividend Value ETF 1.6 49 7 18.2 -2.5
XJR iShares ESG Screened S&P Small-Cap ETF 1.6 12 44 7.1 -13.5
AVUV Avantis U.S. Small Cap Value ETF 1.6 25 31 9.0 -11.6
SCHM Schwab U.S. Mid-Cap ETF 1.6 4 52 6.3 -14.3
FAB First Trust Multi Cap Value AlphaDEX Fund 1.6 67 -11 9.2 -11.4
REVS Columbia Research Enhanced Value ETF 1.6 19 37 7.6 -13.0
MDLV Morgan Dempsey Large Cap Value ETF 1.6 58 -2 8.2 -12.4
BIBL Inspire 100 ETF 1.5 35 21 5.1 -15.5
ICOW Pacer Developed Markets International Cash Cows 100 ETF 1.5 65 -9 12.3 -8.3
PSC Principal U.S. Small-Cap ETF 1.5 38 18 6.1 -14.5
DEUS Xtrackers Russell US Multifactor ETF 1.5 17 39 7.1 -13.5
SVAL iShares US Small Cap Value Factor ETF 1.5 20 36 10.1 -10.5
RWJ Invesco S&P SmallCap 600 Revenue ETF 1.5 39 17 8.9 -11.8
VTWV Vanguard Russell 2000 Value ETF 1.5 15 41 5.0 -15.6
IJH iShares Core S&P Mid-Cap ETF 1.5 5 51 6.6 -14.0
MDY SPDR S&P Midcap 400 ETF Trust 1.5 23 33 6.5 -14.2
IVOO Vanguard S&P Mid-Cap 400 ETF 1.5 10 46 6.6 -14.0
VFVA Vanguard U.S. Value Factor ETF 1.5 13 43 10.3 -10.3
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 1.5 30 26 7.9 -12.8
JPUS JPMorgan Diversified Return U.S. Equity ETF 1.5 18 38 7.4 -13.2
SPMD SPDR Portfolio S&P 400 Mid Cap ETF 1.5 3 53 6.7 -14.0
VUSE Vident U.S. Equity Strategy ETF 1.5 50 6 3.5 -17.2
IMCV iShares Morningstar Mid-Cap Value ETF 1.5 6 50 8.1 -12.5
FLRG Fidelity U.S. Multifactor ETF 1.4 15 41 7.7 -13.0
ONEO SPDR Russell 1000 Momentum Focus ETF 1.4 20 36 7.2 -13.4
QQQJ Invesco NASDAQ Next Gen 100 ETF 1.4 15 41 4.7 -15.9
DRIV Global X Autonomous & Electric Vehicles ETF 1.4 68 -12 5.7 -15.0
ARB AltShares Merger Arbitrage ETF 1.4 77 -21 3.2 -17.4
NUMV Nuveen ESG Mid-Cap Value ETF 1.4 31 25 7.0 -13.6
SEIV SEI Enhanced U.S. Large Cap Value Factor ETF 1.4 15 41 9.9 -10.8
NOBL ProShares S&P 500 Dividend Aristocrats ETF 1.4 35 21 6.0 -14.6
SPVU Invesco S&P 500 Enhanced Value ETF 1.3 13 43 9.4 -11.2
OMFS Invesco Russell 2000 Dynamic Multifactor ETF 1.3 39 17 8.5 -12.2
PWV Invesco Large Cap Value ETF 1.3 55 1 8.0 -12.6
FLQS Franklin U.S. Small Cap Multifactor Index ETF 1.3 35 21 6.8 -13.8
XSHQ Invesco S&P SmallCap Quality ETF 1.3 29 27 8.4 -12.2
GSSC Goldman Sachs Activebeta U.S. Small Cap Equity ETF 1.3 20 36 6.1 -14.6
ONEV SPDR Russell 1000 Low Volatility Focus ETF 1.3 20 36 7.9 -12.7
ESIX SPDR S&P SmallCap 600 ESG ETF 1.3 12 44 7.6 -13.1
JOET Virtus Terranova US Quality Momentum ETF 1.3 29 27 5.2 -15.4
BBMC JPMorgan BetaBuilders U.S. Mid Cap Equity ETF 1.3 7 49 5.6 -15.0
EQAL Invesco Russell 1000 Equal Weight ETF 1.3 20 36 5.8 -14.8
TMDV ProShares Russell US Dividend Growers ETF 1.3 35 21 6.5 -14.1
SELV SEI Enhanced Low Volatility U.S. Large Cap ETF 1.3 15 41 6.7 -14.0
IVOG Vanguard S&P Mid-Cap 400 Growth ETF 1.3 15 41 5.8 -14.8
IJK iShares S&P Mid-Cap 400 Growth ETF 1.3 17 39 5.8 -14.8
RFG Invesco S&P Midcap 400 Pure Growth ETF 1.2 35 21 5.5 -15.1
FEX First Trust Large Cap Core AlphaDEX Fund 1.2 59 -3 6.0 -14.6
MDYG SPDR S&P 400 Mid Cap Growth ETF 1.2 15 41 5.8 -14.8
VOE Vanguard Mid-Cap Value ETF 1.2 7 49 7.3 -13.3
VB Vanguard Small-Cap ETF 1.2 5 51 5.2 -15.4
WCEO Hypatia Women CEO ETF 1.2 85 -29 4.7 -15.9
FSMO Fidelity Small-Mid Cap Opportunities ETF 1.2 60 -4 6.9 -13.7
IWN iShares Russell 2000 Value ETF 1.2 24 32 5.1 -15.5
VFLO VictoryShares Free Cash Flow ETF 1.2 39 17 8.6 -12.0
AFSM First Trust Active Factor Small Cap ETF 1.1 75 -19 6.7 -13.9
IWS iShares Russell Mid-Cap Value ETF 1.1 23 33 6.5 -14.1
PRAY FIS Christian Stock Fund 1.1 69 -13 6.0 -14.7
QARP Xtrackers Russell 1000 US Quality at a Reasonable Price ETF 1.1 19 37 6.5 -14.1
SQLV Royce Quant Small-Cap Quality Value ETF 1.1 60 -4 7.7 -12.9
FNK First Trust Mid Cap Value AlphaDEX Fund 1.1 70 -14 10.4 -10.2
SMLF iShares U.S. SmallCap Equity Factor ETF 1.1 15 41 5.4 -15.3
VTWO Vanguard Russell 2000 ETF 1.1 10 46 3.3 -17.3
MIDE Xtrackers S&P MidCap 400 ESG ETF 1.1 15 41 6.9 -13.7
DFAS Dimensional U.S. Small Cap ETF 1.1 26 30 5.7 -14.9
JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF 1.1 30 26 6.7 -13.9
ISCV iShares Morningstar Small Cap Value ETF 1.1 6 50 7.6 -13.0
PSCI Invesco S&P SmallCap Industrials ETF 1.1 29 27 5.5 -15.1
JHMM John Hancock Multifactor Mid Cap ETF 1.1 42 14 6.5 -14.2
AIEQ AI Powered Equity ETF 1.1 75 -19 3.4 -17.3
HAIL SPDR S&P Kensho Smart Mobility ETF 1.0 45 11 -2.8 -23.4
USVM VictoryShares US Small Mid Cap Value Momentum ETF 1.0 25 31 7.5 -13.1
EVX VanEck Environmental Services ETF 1.0 55 1 3.4 -17.2
XSHD Invesco S&P SmallCap High Dividend Low Volatility ETF 1.0 30 26 11.4 -9.3
DEEP Roundhill Acquirers Deep Value ETF 1.0 80 -24 14.1 -6.5
DFUV Dimensional US Marketwide Value ETF 1.0 22 34 7.6 -13.1
YALL God Bless America ETF 1.0 65 -9 3.8 -16.8
STXK Strive Small-Cap ETF 1.0 18 38 5.0 -15.6
JHSC John Hancock Multifactor Small Cap ETF 1.0 42 14 6.8 -13.8
SCHA Schwab U.S. Small-Cap ETF 1.0 4 52 4.5 -16.1
DIVD Altrius Global Dividend ETF Altrius Global Divid ETF 1.0 49 7 10.7 -9.9
ROE Astoria US Quality Kings ETF 1.0 49 7 7.8 -12.8
ISCB iShares Morningstar Small-Cap ETF 1.0 4 52 5.1 -15.5
YLDE ClearBridge Dividend Strategy ESG ETF 1.0 60 -4 5.3 -15.3
ESML iShares ESG Aware MSCI USA Small-Cap ETF 1.0 17 39 5.2 -15.4
SMDV ProShares Russell 2000 Dividend Growers ETF 1.0 40 16 6.4 -14.2
BFOR ALPS Barron's 400 ETF 1.0 65 -9 6.4 -14.2
AVEM Avantis Emerging Markets Equity ETF 0.9 33 23 8.8 -11.8
FRDM Freedom 100 Emerging Markets ETF 0.9 49 7 6.7 -14.0
AUSF Global X Adaptive U.S. Factor ETF 0.9 27 29 8.7 -11.9
PPA Invesco Aerospace & Defense ETF 0.9 58 -2 3.1 -17.5
VXF Vanguard Extended Market ETF 0.9 6 50 4.0 -16.7
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 0.9 95 -39 10.6 -10.0
VLUE iShares MSCI USA Value Factor ETF 0.9 15 41 10.6 -10.0
ISCG iShares Morningstar Small-Cap Growth ETF 0.9 6 50 2.4 -18.2
FYC First Trust Small Cap Growth AlphaDEX Fund 0.9 71 -15 1.0 -19.7
FNDA Schwab Fundamental US Small Co. Index ETF 0.9 25 31 6.2 -14.4
QLC FlexShares US Quality Large Cap Index Fund 0.9 25 31 5.6 -15.0
RSSL Global X Russell 2000 ETF 0.9 8 48 3.0 -17.6
LRGF iShares U.S. Equity Factor ETF 0.9 8 48 5.9 -14.7
DES WisdomTree U.S. SmallCap Dividend Fund 0.9 38 18 7.1 -13.5
IWR iShares Russell Midcap ETF 0.9 19 37 5.6 -15.0
FELV Fidelity Enhanced Large Cap Value ETF 0.9 18 38 6.5 -14.2
GK AdvisorShares Gerber Kawasaki ETF 0.9 75 -19 3.5 -17.1
FELC Fidelity Enhanced Large Cap Core ETF 0.9 18 38 5.6 -15.0
CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF 0.8 59 -3 6.6 -14.0
IWM iShares Russell 2000 ETF 0.8 19 37 3.4 -17.2
FNX First Trust Mid Cap Core AlphaDEX Fund 0.8 60 -4 6.9 -13.8
TPLC Timothy Plan Fund Timothy Plan US Large/Mid Cap Core Fund 0.8 52 4 5.4 -15.2
TPLE Timothy Plan Us Large/Mid Cap Core Enhanced ETF 0.8 58 -2 5.3 -15.3
KOMP SPDR S&P Kensho New Economies Composite ETF 0.8 20 36 1.1 -19.5
AVES Avantis Emerging Markets Value ETF 0.8 36 20 10.9 -9.7
BBSC JPMorgan BetaBuilders U.S. Small Cap Equity ETF 0.8 9 47 3.9 -16.7
NUSC Nuveen ESG Small-Cap ETF 0.8 31 25 5.1 -15.5
IWC iShares Micro-Cap ETF 0.8 60 -4 -3.6 -24.2
PRFZ Invesco FTSE RAFI US 1500 Small-Mid ETF 0.8 39 17 4.3 -16.3
BKSE BNY Mellon US Small Cap Core Equity ETF 0.8 4 52 5.1 -15.6
ONEY SPDR Russell 1000 Yield Focus ETF 0.8 20 36 9.9 -10.7
ISMD Inspire Small/Mid Cap ETF 0.8 54 2 5.6 -15.0
PY Principal Value ETF 0.8 15 41 7.4 -13.2
PKW Invesco Buyback Achievers ETF 0.8 62 -6 7.1 -13.5
FSMD Fidelity Small-Mid Multifactor ETF 0.8 15 41 7.1 -13.5
IUS Invesco RAFI Strategic US ETF 0.8 19 37 7.2 -13.4
TPHD Timothy Plan High Dividend Stock ETF 0.7 52 4 6.3 -14.3
TPHE Timothy Plan High Dividend Stock Enhanced ETF 0.7 54 2 6.3 -14.4
RECS Columbia Research Enhanced Core ETF 0.7 15 41 5.6 -15.0
RZV Invesco S&P Smallcap 600 Pure Value ETF 0.7 35 21 9.7 -10.9
LEGR First Trust Indxx Innovative Transaction & Process ETF 0.7 65 -9 8.3 -12.3
AVSC Avantis U.S Small Cap Equity ETF 0.7 25 31 4.6 -16.0
IMCB iShares Morningstar Mid-Cap ETF 0.7 4 52 6.2 -14.4
AVUS Avantis U.S. Equity ETF 0.7 15 41 5.9 -14.7
FNY First Trust Mid Cap Growth AlphaDEX Fund 0.7 70 -14 2.2 -18.4
GVLU Gotham 1000 Value ETF 0.7 50 6 7.6 -13.0
JMOM JPMorgan U.S. Momentum Factor ETF 0.7 12 44 4.9 -15.8
FCTR First Trust Lunt U.S. Factor Rotation ETF 0.7 65 -9 5.4 -15.2
PTL Inspire 500 ETF 0.7 9 47 5.8 -14.9
DGRS WisdomTree US Smallcap Quality Dividend Growth Fund 0.7 38 18 5.4 -15.2
VO Vanguard Mid-Cap ETF 0.7 4 52 5.9 -14.7
VTWG Vanguard Russell 2000 Growth ETF 0.7 15 41 1.5 -19.2
SMMD iShares Russell 2500 ETF 0.7 15 41 5.8 -14.8
FYX First Trust Small Cap Core AlphaDEX Fund 0.7 61 -5 5.8 -14.8
SIZE iShares MSCI USA Size Factor ETF 0.6 15 41 6.0 -14.7
BKMC BNY Mellon US Mid Cap Core Equity ETF 0.6 4 52 5.9 -14.7
CSA VictoryShares US Small Cap Volatility Wtd ETF 0.6 35 21 6.5 -14.2
STXV Strive 1000 Value ETF 0.6 18 38 7.7 -12.9
CSF VictoryShares US Discovery Enhanced Volatility Wtd ETF 0.6 42 14 6.4 -14.2
VFQY Vanguard U.S. Quality Factor ETF 0.6 13 43 7.4 -13.2
RNSC Furst Trust Small Cap US Equity Select ETF 0.6 60 -4 7.0 -13.7
EUSA iShares MSCI USA Equal Weighted ETF 0.6 9 47 6.0 -14.6
QQJG Invesco ESG NASDAQ Next Gen 100 ETF 0.6 20 36 5.6 -15.0
FVAL Fidelity Value Factor ETF 0.6 15 41 7.3 -13.3
BLES Inspire Global Hope ETF 0.6 61 -5 6.4 -14.3
FLQL Franklin LibertyQ U.S. Equity ETF 0.6 15 41 5.9 -14.8
TPSC Timothy Plan US Small Cap Core ETF 0.6 52 4 6.8 -13.9
SFYX SoFi Next 500 ETF 0.6 0 56 5.0 -15.6
GSEW Goldman Sachs Equal Weight U.S. Large Cap Equity ETF 0.6 9 47 6.1 -14.6
FNDB Schwab Fundamental US Broad Market Index ETF 0.6 25 31 7.0 -13.6
DFAC Dimensional U.S. Core Equity 2 ETF 0.6 17 39 5.6 -15.0
SPEM SPDR Portfolio Emerging Markets ETF 0.6 7 49 7.4 -13.2
SSLY Syntax Stratified SmallCap ETF 0.6 40 16 7.0 -13.7
SMDY Syntax Stratified MidCap ETF 0.6 35 21 5.6 -15.0
CSML IndexIQ ETF Trust IQ U.S. Small Cap ETF 0.6 35 21 5.0 -15.6
JVAL JPMorgan U.S. Value Factor ETF 0.6 12 44 8.2 -12.4
NULV Nuveen ESG Large-Cap Value ETF 0.6 26 30 6.9 -13.7
VSDA VictoryShares Dividend Accelerator ETF 0.6 35 21 6.7 -13.9
FNDX Schwab Fundamental US Large Co. Index ETF 0.5 25 31 7.1 -13.5
FYT First Trust Small Cap Value AlphaDEX Fund 0.5 73 -17 9.9 -10.7
SNPD Xtrackers S&P ESG Dividend Aristocrats ETF 0.5 15 41 6.9 -13.7
USMF WisdomTree U.S. Multifactor Fund 0.5 28 28 7.6 -13.0
EES WisdomTree U.S. SmallCap Fund 0.5 38 18 9.2 -11.4
IWO iShares Russell 2000 Growth ETF 0.5 24 32 1.4 -19.2
VFMO Vanguard U.S. Momentum Factor ETF 0.5 13 43 2.3 -18.3
UMMA Wahed Dow Jones Islamic World ETF 0.5 65 -9 4.6 -16.1
HSMV First Trust Horizon Managed Volatility Small/Mid ETF 0.5 80 -24 6.2 -14.4
ROAM Hartford Multifactor Emerging Markets ETF 0.5 44 12 11.3 -9.3
VLU SPDR S&P 1500 Value Tilt ETF 0.5 12 44 7.1 -13.5
FQAL Fidelity Quality Factor ETF 0.5 15 41 5.9 -14.7
TEMP JPMorgan Climate Change Solutions ETF 0.5 49 7 5.3 -15.3
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF 0.5 29 27 6.1 -14.5
DIVB iShares Core Dividend ETF 0.5 5 51 7.8 -12.8
WLDR Affinity World Leaders Equity ETF 0.5 67 -11 8.4 -12.2
VBK Vanguard Small-Cap Growth ETF 0.5 7 49 1.4 -19.2
QDF FlexShares Quality Dividend Index Fund 0.5 37 19 4.5 -16.1
JHML John Hancock Multifactor Large Cap ETF 0.5 29 27 5.6 -15.0
FENI Fidelity Enhanced International ETF 0.5 28 28 8.0 -12.6
VALQ American Century U.S. Quality Value ETF 0.5 29 27 7.5 -13.1
SDY SPDR S&P Dividend ETF 0.5 35 21 6.1 -14.5
SSPY Syntax Stratified LargeCap ETF 0.5 30 26 6.6 -14.1
GLOF iShares Global Equity Factor ETF 0.5 20 36 7.2 -13.4
AVDE Avantis International Equity ETF 0.5 23 33 7.8 -12.9
CFA VictoryShares US 500 Volatility Wtd ETF 0.4 35 21 5.9 -14.7
VIG Vanguard Dividend Appreciation ETF 0.4 6 50 5.7 -14.9
CFO VictoryShares US 500 Enhanced Volatility Wtd ETF 0.4 40 16 5.9 -14.7
TILT FlexShares Morningstar US Market Factor Tilt Index Fund 0.4 25 31 5.6 -15.1
MEM Matthews Emerging Markets Equity Active ETF 0.4 79 -23 5.8 -14.8
BTHM BlackRock Future U.S. Themes ETF 0.4 60 -4 4.3 -16.4
VONV Vanguard Russell 1000 Value ETF 0.4 8 48 6.6 -14.0
DFSU Dimensional US Sustainability Core 1 ETF 0.4 18 38 5.6 -15.0
NULC Nuveen ESG Large-Cap ETF 0.4 21 35 5.7 -14.9
PRF Invesco FTSE RAFI US 1000 ETF 0.4 39 17 7.1 -13.5
EVUS iShares ESG Aware MSCI USA Value ETF 0.4 18 38 6.6 -14.0
RSP Invesco S&P 500 Equal Weight ETF 0.4 20 36 6.2 -14.4
CVAR Cultivar ETF 0.4 87 -31 7.2 -13.4
IWD iShares Russell 1000 Value ETF 0.4 19 37 6.5 -14.2
FAD First Trust Multi Cap Growth AlphaDEX Fund 0.4 64 -8 2.2 -18.4
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF 0.4 9 47 5.7 -14.9
ROUS Hartford Multifactor US Equity ETF 0.4 19 37 6.9 -13.7
DFAE Dimensional Emerging Core Equity Market ETF 0.4 35 21 7.4 -13.3
DFEM Dimensional Emerging Markets Core Equity 2 ETF 0.4 38 18 8.1 -12.6
CGGR Capital Group Growth ETF 0.4 39 17 3.6 -17.0
EPS WisdomTree U.S. LargeCap Fund 0.4 8 48 6.2 -14.4
FXR First Trust Industrials/Producer Durables AlphaDEX Fund 0.4 61 -5 6.5 -14.1
PFM Invesco Dividend Achievers ETF 0.4 53 3 5.5 -15.1
DEHP Dimensional Emerging Markets High Profitability ETF 0.3 41 15 6.6 -14.0
SCHV Schwab U.S. Large-Cap Value ETF 0.3 4 52 6.6 -14.0
FDMO Fidelity Momentum Factor ETF 0.3 15 41 4.3 -16.3
MMSC First Trust Multi-Manager Small Cap Opportunities ETF 0.3 95 -39 1.6 -19.0
DFAU Dimensional US Core Equity Market ETF 0.3 12 44 5.3 -15.3
RWL Invesco S&P 500 Revenue ETF 0.3 39 17 6.8 -13.9
MMTM SPDR S&P 1500 Momentum Tilt ETF 0.3 12 44 4.8 -15.8
ILCV iShares Morningstar Value ETF 0.3 4 52 6.4 -14.2
PRNT 3D Printing ETF 0.3 66 -10 -1.2 -21.8
DFAX Dimensional World ex U.S. Core Equity 2 ETF 0.3 30 26 7.9 -12.8
DFEV Dimensional Emerging Markets Value ETF 0.3 43 13 11.1 -9.5
CWI SPDR MSCI ACWI ex-US ETF 0.3 30 26 6.7 -13.9
HLAL Wahed FTSE USA Shariah ETF 0.3 50 6 4.9 -15.8
DON WisdomTree U.S. MidCap Dividend Fund 0.3 38 18 8.3 -12.3
DGRO iShares Core Dividend Growth ETF 0.3 8 48 6.5 -14.1
VIOV Vanguard S&P Small-Cap 600 Value ETF 0.3 15 41 8.5 -12.1
DUHP Dimensional US High Profitability ETF 0.3 21 35 6.7 -13.9
IJS iShares S&P Small-Cap 600 Value ETF 0.2 18 38 8.4 -12.2
APUE ActivePassive U.S. Equity ETF 0.2 45 11 4.9 -15.7
VTV Vanguard Value ETF 0.2 4 52 6.8 -13.8
VTI Vanguard Total Stock Market ETF 0.2 3 53 5.1 -15.5
VTHR Vanguard Russell 3000 ETF 0.2 10 46 5.1 -15.5
SLYV SPDR S&P 600 Small Cap Value ETF 0.2 15 41 8.4 -12.2
SPTM SPDR Portfolio S&P 1500 Composite Stock Market ETF 0.2 3 53 5.4 -15.2
ESGU iShares ESG Aware MSCI USA ETF 0.2 15 41 5.3 -15.4
USXF iShares ESG Advanced MSCI USA ETF 0.2 10 46 5.4 -15.2
IWV iShares Russell 3000 ETF 0.2 20 36 5.0 -15.7
DFUS Dimensional U.S. Equity ETF 0.2 9 47 5.1 -15.5
SUSL iShares ESG MSCI USA Leaders ETF 0.2 10 46 5.3 -15.3
SMLV SPDR SSGA US Small Cap Low Volatility Index ETF 0.2 12 44 7.5 -13.1
ITOT iShares Core S&P Total U.S. Stock Market ETF 0.2 3 53 5.1 -15.5
SCHB Schwab U.S. Broad Market ETF 0.2 3 53 5.2 -15.5
FDWM Fidelity Women's Leadership ETF 0.2 59 -3 5.0 -15.6
JQUA JPMorgan U.S. Quality Factor ETF 0.2 12 44 6.0 -14.6
GDEF Goldman Sachs Defensive Equity ETF 0.2 55 1 4.8 -15.8
USSG Xtrackers MSCI USA ESG Leaders Equity ETF 0.2 10 46 5.3 -15.3
ESGV Vanguard ESG U.S. Stock ETF 0.2 9 47 5.1 -15.5
OALC OneAscent Large Cap Core ETF 0.2 86 -30 4.6 -16.0
SCHK Schwab 1000 Index ETF 0.2 5 51 5.3 -15.4
IUSV iShares Core S&P US Value ETF 0.2 4 52 6.7 -13.9
FBCG Fidelity Blue Chip Growth ETF 0.2 59 -3 2.8 -17.8
VONE Vanguard Russell 1000 ETF 0.2 8 48 5.3 -15.3
IUSG iShares Core S&P U.S. Growth ETF 0.2 4 52 4.8 -15.8
IWB iShares Russell 1000 ETF 0.2 15 41 5.1 -15.5
IYY iShares Dow Jones U.S. ETF 0.2 20 36 5.0 -15.6
DTD WisdomTree U.S. Total Dividend Fund 0.2 28 28 6.3 -14.3
SPUS SP Funds S&P 500 Sharia Industry Exclusions ETF 0.2 45 11 4.7 -15.9
RVRB Reverb ETF 0.2 30 26 5.0 -15.6
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 47 5.7 -15.0
HAPI Harbor Human Capital Factor US Large Cap ETF 0.2 36 20 4.8 -15.8
GUSA Goldman Sachs MarketBeta U.S. 1000 Equity ETF 0.2 11 45 5.2 -15.4
SPXT ProShares S&P 500 Ex-Technology ETF 0.2 9 47 5.6 -15.0
SMMV iShares MSCI USA Small-Cap Min Vol Factor ETF 0.2 20 36 4.3 -16.3
VSLU Applied Finance Valuation Large Cap ETF 0.2 49 7 5.7 -14.9
TTAC FCF US Quality ETF 0.2 59 -3 6.3 -14.3
QUS SPDR MSCI USA StrategicFactors ETF 0.2 15 41 5.9 -14.7
PBUS Invesco MSCI USA ETF 0.2 4 52 5.2 -15.4
USCL iShares Climate Conscious & Transition MSCI USA ETF 0.2 8 48 5.2 -15.4
SCHX Schwab U.S. Large-Cap ETF 0.2 3 53 5.3 -15.4
USCA Xtrackers MSCI USA Climate Action Equity ETF 0.2 7 49 5.2 -15.4
VOOG Vanguard S&P 500 Growth ETF 0.2 10 46 4.7 -15.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 0.2 33 23 7.1 -13.5
DFIV Dimensional International Value ETF 0.2 27 29 9.8 -10.9
NANC Unusual Whales Subversive Democratic Trading ETF 0.2 75 -19 3.9 -16.7
VOTE TCW Transform 500 ETF 0.2 5 51 5.2 -15.4
QVML Invesco S&P 500 QVM Multi-factor ETF 0.2 11 45 5.0 -15.6
BKLC BNY Mellon US Large Cap Core Equity ETF 0.2 0 56 5.3 -15.3
ILCB iShares Morningstar U.S. Equity ETF 0.2 3 53 5.2 -15.4
CRBN iShares MSCI ACWI Low Carbon Target ETF 0.2 20 36 5.3 -15.3
VT Vanguard Total World Stock ETF 0.2 7 49 5.8 -14.8
DLN WisdomTree U.S. LargeCap Dividend Fund 0.1 28 28 6.1 -14.6
SPXN ProShares S&P 500 Ex-Financials ETF 0.1 9 47 5.3 -15.3
IVW iShares S&P 500 Growth ETF 0.1 18 38 4.6 -16.0
SPYG SPDR Portfolio S&P 500 Growth ETF 0.1 4 52 4.8 -15.8
VYM Vanguard High Dividend Yield Index ETF 0.1 6 50 7.1 -13.5
SPXV ProShares S&P 500 Ex-Health Care ETF 0.1 9 47 5.0 -15.6
VOO Vanguard S&P 500 ETF 0.1 3 53 5.4 -15.3
XVV iShares ESG Screened S&P 500 ETF 0.1 8 48 5.1 -15.5
SUSA iShares MSCI USA ESG Select ETF 0.1 25 31 5.3 -15.4
TOK iShares MSCI Kokusai ETF 0.1 26 30 5.2 -15.4
IQSU IQ Candriam U.S. Large Cap Equity ETF 0.1 9 47 4.9 -15.7
SPYX SPDR S&P 500 Fossil Fuel Reserves Free ETF 0.1 20 36 5.0 -15.6
CATH Global X S&P 500 Catholic Values Custom ETF 0.1 29 27 5.1 -15.5
SPXE ProShares S&P 500 Ex-Energy ETF 0.1 9 47 5.1 -15.5
KOKU Xtrackers MSCI Kokusai Equity ETF 0.1 9 47 5.4 -15.2
URTH iShares MSCI World ETF 0.1 24 32 5.4 -15.3
IVV iShares Core S&P 500 ETF 0.1 3 53 5.3 -15.4
SPLG SPDR Portfolio S&P 500 ETF 0.1 2 54 5.3 -15.3
SPY SPDR S&P 500 ETF Trust 0.1 9 47 5.2 -15.4
STRV Strive 500 ETF 0.1 5 51 5.2 -15.4
BBUS JP Morgan Betabuilders U.S. Equity ETF 0.1 2 54 5.2 -15.4
IYJ iShares U.S. Industrials ETF 0.1 40 16 4.9 -15.7
VV Vanguard Large-Cap ETF 0.1 4 52 5.3 -15.3
ACWI iShares MSCI ACWI ETF 0.1 32 24 5.5 -15.2
RODE Hartford Multifactor Diversified International ETF 0.1 29 27 11.4 -9.2
VOOV Vanguard S&P 500 Value ETF 0.1 10 46 6.6 -14.0
STXD Strive 1000 Dividend Growth ETF 0.1 35 21 5.1 -15.5
IVE iShares S&P 500 Value ETF 0.1 18 38 6.5 -14.1
SPYV SPDR Portfolio S&P 500 Value ETF 0.1 4 52 6.7 -14.0
ACVF American Conservative Values ETF 0.1 75 -19 4.4 -16.2
QWLD SPDR MSCI World StrategicFactors ETF 0.1 30 26 5.9 -14.7
TXS Texas Capital Texas Equity Index ETF 0.1 49 7 5.3 -15.3
FLEE Franklin FTSE Europe ETF 0.1 9 47 6.9 -13.7
SPDW SPDR Portfolio Developed World ex-US ETF 0.1 3 53 6.8 -13.8
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.1 12 44 4.8 -15.8
EGUS iShares ESG Aware MSCI USA Growth ETF 0.1 18 38 4.6 -16.0
QUAL iShares MSCI USA Quality Factor ETF 0.1 15 41 5.3 -15.3
ERTH Invesco MSCI Sustainable Future ETF 0.1 62 -6 3.2 -17.4
IWP iShares Russell Mid-Cap Growth ETF 0.1 23 33 4.0 -16.6
FNDC Schwab Fundamental International Small Co. Index ETF 0.1 39 17 7.0 -13.6
ONEQ Fidelity Nasdaq Composite Index ETF 0.1 21 35 4.0 -16.6
GSUS Goldman Sachs MarketBeta U.S. Equity ETF 0.1 7 49 5.2 -15.4
SFY SoFi Select 500 ETF 0.1 0 56 4.8 -15.8
VEU Vanguard FTSE All-World ex-US Index Fund 0.1 8 48 7.0 -13.6
ZSB USCF Sustainable Battery Metals Strategy Fund 0.1 61 -5 19.9 -0.7
ESG FlexShares Trust FlexShares STOXX US ESG Select Index Fund 0.1 32 24 5.0 -15.6
AVIV Avantis International Large Cap Value ETF 0.1 25 31 8.8 -11.8
DFIC Dimensional International Core Equity 2 ETF 0.1 23 33 7.5 -13.2
DFAI Dimensional International Core Equity Market ETF 0.1 18 38 7.0 -13.6
FELG Fidelity Enhanced Large Cap Growth ETF 0.1 18 38 5.0 -15.7
DHS WisdomTree U.S. High Dividend Fund 0.1 38 18 8.1 -12.5
SEIM SEI Enhanced U.S. Large Cap Momentum Factor ETF 0.0 15 41 4.9 -15.7
VIS Vanguard Industrials ETF 0.0 10 46 4.4 -16.2
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 0.0 41 15 7.5 -13.1
OMFL Invesco Russell 1000 Dynamic Multifactor ETF 0.0 29 27 9.9 -10.8
GSPY Gotham Enhanced 500 ETF 0.0 50 6 5.3 -15.3
FIDU Fidelity MSCI Industrial Index ETF 0.0 8 48 4.8 -15.9
HKND Humankind US Stock ETF 0.0 11 45 7.1 -13.5
USNZ Xtrackers Net Zero Pathway Paris Aligned US Equity ETF 0.0 10 46 5.5 -15.2
AVDV Avantis International Small Cap Value ETF 0.0 36 20 7.7 -12.9
LCTU BlackRock U.S. Carbon Transition Readiness ETF 0.0 14 42 5.2 -15.4
SQEW LeaderShares Equity Skew ETF 0.0 81 -25 4.0 -16.7
SCHG Schwab U.S. Large-Cap Growth ETF 0.0 4 52 4.5 -16.1
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF 0.0 20 36 5.1 -15.5
DFSI Dimensional International Sustainability Core 1 ETF 0.0 24 32 6.1 -14.5
IWF iShares Russell 1000 Growth ETF 0.0 19 37 4.9 -15.7
STXG Strive 1000 Growth ETF 0.0 18 38 4.3 -16.3
DFIS Dimensional International Small Cap ETF 0.0 39 17 6.4 -14.2
VWO Vanguard FTSE Emerging Markets ETF 0.0 8 48 7.2 -13.4
VXUS Vanguard Total International Stock ETF 0.0 7 49 6.9 -13.7
DSI iShares MSCI KLD 400 Social ETF 0.0 25 31 5.3 -15.3
SPRX Spear Alpha ETF 0.0 75 -19 2.5 -18.1
CGUS Capital Group Core Equity ETF 0.0 33 23 4.6 -16.0
DISV Dimensional International Small Cap Value ETF 0.0 42 14 8.8 -11.9
DYNF BlackRock U.S. Equity Factor Rotation ETF 0.0 30 26 4.8 -15.8

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2019 2020 2021 2022 2023 2024E 2025E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2023 2024E 2025E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 VanEck Steel ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 18.6 %
Divided by: Fwd. P/BV 0.9 x
Less: Expense ratio 56 bp
Equals: ALTAR Score 20.6 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.61 CATEGORY
AVERAGE		 1.53
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.